ACIT, Jaipur V. GOENKA JEWELLERS, Jaipur

ITA 48/JPR/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99431 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 9 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-10-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 22-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: G G MUNDRA
• Section: 143(3); 10AA; 263

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH VKJ-IH-RKSYKUH] U;KF;D LNL; ,OA JH FOE FLAG ;KN O] YS[KK LNL; DS LE{K BEFORE: SHRI R.P. TOLANI, JM & SHRI VIKRAM SINGH YA DAV, AM VK;DJ VIHY LA- @ ITA NO. 48 & 727/JP/2014 FU/KZKJ.K O'K Z @ ASSESSMENT YEARS : 2007-08 & 2008-09 A.C.I.T./D.C.I.T., CIRCLE-2, JAIPUR. CUKE VS. M/S GOENKA JEWELLERS , 401, PANCHRATNA, M.S.B. KA RASTA, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AABFG 8810 D VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS @ REVENUE BY : SHRI M.S. MEENA (CIT) FU/KZKFJRH DH VKSJ L S@ ASSESSEE BY : SHRI G.G. MUNDRA (CA) LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 07 /10/2015 MN?KKS'K .KK DH RKJH[ K@ DATE OF PRONOUNCEMENT : 30/10/2015 VKNS'K@ ORDER PER VIKRAM SINGH YADAV, A.M.: BOTH THE APPEALS FILED BY THE REVENUE ARE AGAINST THE ORDERS DATED 28/11/2013 AND 19/08/2014 PASSED BY THE LEARN ED CIT(A)-I, JAIPUR, FOR A.Y. 2007-08 AND 2008-09. THE SOLE GRO UND OF BOTH THE APPEALS IS REPRODUCED AS UNDER:- ITA 48 & 727/JP/2014_ ACIT VS. M/S GOENKA JEWELLERS 2 WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF T HE CASE AND IN LAW THE LD. CIT(A) HAS ERRED IN ALLOWING DED UCTION OF RS. 3,49,54,102 IN A.Y. 2007-08 AND RS. 7,07,51,730 /- IN A.Y. 2008-09 U/S 10AA OF I.T. ACT, FOR CLAIMING THE DEDU CTION ARE NOT FULFILLED. 2. THE LD CIT(A) HAD DELETED THE ADDITION MADE BY T HE ASSESSING OFFICER BY FOLLOWING THE DECISION OF THE HONBLE IT AT IN CASE OF M/S GOENKA DIAMOND AND JEWELS LTD. IN A.Y. 2008-09 IN I TA NO. 509/JP/2011. 3. IT IS NOTED THAT THESE MATTERS HAVE ARISEN FROM THE ORDER OF THE ASSESSING OFFICER PASSED U/S 143(3) OF THE INCOME T AX ACT, 1961 (IN SHORT THE ACT) PURSUANT TO DIRECTIONS OF LD CIT U/S 263 OF THE ACT DATED 28/03/2012 FOR A.Y. 2007-08 AND 25/03/2013 FO R A.Y. 2008-09. THE ORDERS OF THE LD CIT HAVE COME UP BEFORE US IN ITA NO. 365/JP/2012 AND 384/JP/2013. IN THESE CASES WE HAVE ALREADY TAKEN A VIEW THAT THE LD CIT HAS ERRED IN EXERCISING HIS POWERS U/S 263 OF THE ACT AND THE ORDER PASSED BY THE LD ASSESSING OF FICER U/S 143(3) WAS NOT ERRONEOUS AND PREJUDICIAL TO THE INTEREST O F REVENUE. GIVEN THAT THESE PROCEEDINGS HAVE ARISEN PURSUANT TO DIRE CTIONS OF THE LD ITA 48 & 727/JP/2014_ ACIT VS. M/S GOENKA JEWELLERS 3 CIT U/S 263 OF THE ACT AND THE FACT THAT WE HAVE AL READY HELD THAT LD CIT HAS ERRED IN EXERCISING HIS POWERS U/S 263 OF T HE ACT, WE FEEL THAT IT WOULD NOT BE NECESSARY TO ADJUDICATE ON THE MERITS OF THE MATTER AS CONTESTED BY THE DEPARTMENT IN THE PRESEN T APPEALS. HENCE, BOTH THE DEPARTMENTAL APPEALS ARE DISMISSED. 4. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 30/10/2015. SD/- SD/- VKJ-IH-RKSYKUH FOE FLAG ;KNO (R.P.TOLANI) (VIKRAM SINGH YADAV) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 30 TH OCTOBER, 2015 *RANJAN VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- THE A.C.I.T./D.C.I.T., CIRCLE-2, JAI PUR. 2. IZR;FKHZ@ THE RESPONDENT- M/S GOENKA JEWELLERS, JAIPUR. 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR 6. XKMZ QKBZY@ GUARD FILE (ITA NO. 48 AND 727/JP/2014) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR